The private equity firms seeking control of TDC, the Danish telecoms company, have for the third time extended the deadline, until March 3, for investors to sell their bonds. The previous deadline set by the group, which comprises Apax Partners, Blackstone, Kohlberg Kravis Roberts, Permira and Providence Equity Partners, was February 24.

Standard & Poor’s has warned it may downgrade the credit ratings of Valentia Telecommunications if Babcock & Brown, the Australian investment and advisory group, gains control of parent company Eircom, an Irish telecoms company. Babcock is reported to be planning a €2.4bn ($2.9bn) bid. S&P refused to rule out a multi-notch downgrade for Valentia, which is rated high double-B, the top high-yield rating.

ING, the Dutch financial services group, is preparing to issue its first sterling-denominated bond. ING will arrange the subordinated deal jointly with Lehman Brothers and UBS. The deal will be the first in sterling by the ING parent, although its subsidiaries have tapped the sterling debt market.

HSBC worked on its first bond for Quebec last week as the Canadian province launched a global benchmark bond. HSBC, which helped arrange the 10-year deal alongside Deutsche Bank, Merrill Lynch and Scotia Capital, has not handled any previous bonds for Quebec, according to research company Dealogic. However, Crédit Commercial de France, part of HSBC, helped underwrite three French franc-denominated deals for Quebec in the past.